Cushman & Wakefield leases 7,600 s/f at 680 Fifth Ave. to POP MART
Manhattan, NY Cushman & Wakefield made known that POP MART has signed a long-term lease for 7,600 s/f at 680 Fifth Ave. The location will serve as POP MART’s largest N.Y.C. flagship, joining existing stores in SoHo and Times Square.
The lease comprises 3,400 s/f on the ground floor and 4,200 s/f on the lower level, adjacent to Swarovski’s new global flagship. POP MART’s new store will feature immersive brand design, storefront visibility, and custom signage opportunities along one of the world’s most iconic retail corridors.
Cushman & Wakefield’s Steven Soutendijk and Laura Pomerantz represented the landlord, 680 Fifth Avenue Associates, in partnership with Roy Bajtel of Valor. Joseph Hudson of CBRE represented the tenant.
“We’re thrilled to welcome POP MART to 680 Fifth Avenue,” said Roy Bajtel of Valor Capital Partners. “Their flagship will bring a new and dynamic retail experience to the Plaza District, adding energy and global appeal to one of the most recognizable blocks in the city. This transaction represents the culmination of years of strategic planning and a transformative capital improvement program that has completely reimagined this iconic asset.”
Located between 53rd and 54th Sts., 680 Fifth Ave. is among the world’s premier shopping destinations, with neighbors including Cartier, Nike, Bulgari, and Apple. The property offers 57-ft. of Fifth Ave. frontage, 15-ft. ceilings, and a newly installed glass façade providing visibility to more than 20 million annual pedestrians traveling between Central Park and Rockefeller Center.
Under Roy Bajtel’s leadership, Valor Capital Partners executed an ambitious, multi-year repositioning that fundamentally transformed 680 Fifth Ave. into a best-in-class mixed-use property. The comprehensive overhaul included a dramatic reconfiguration of the building’s street presence—relocating the office tower entrance from Fifth Ave. to 54th St. and creating significantly expanded, column-free retail space with unparalleled visibility.
The centerpiece of Valor’s renovation was the creation of a striking new lobby for the office tower, featuring a contemporary design, premium finishes, and hospitality-level amenities that elevated the tenant experience to match the building’s prestigious Fifth Ave. address. By separating the office and retail entries, Bajtel and his team unlocked substantial value: maximizing prime ground-floor retail frontage while simultaneously enhancing the quality and appeal of the office tower.
“This wasn’t just a facelift — it was a complete reimagining of how this building functions and presents itself to the world,” said Bajtel. “We saw an opportunity to create something truly special: world-class retail exposure on Fifth Ave. paired with a boutique office experience that competes with the best new construction in Midtown. The result speaks for itself in the caliber of tenants we’re attracting.”
The transformation included installing a dramatic new glass façade, upgrading building systems, and curating every detail of the tenant experience. The project positioned 680 Fifth Ave. to capture premium rents while attracting globally recognized brands seeking the prestige and foot traffic of one of the world’s most celebrated retail corridors.
POP MART, founded in Beijing in 2010, has become an international sensation known for its collectible art toys, immersive brand activations, and creative collaborations. The company operates more than 400 stores worldwide, including prominent locations in London, Tokyo, Seoul, and Los Angeles. The new Fifth Avenue flagship will mark its most significant North American retail investment to date.
“POP MART’s commitment to Fifth Avenue reinforces the corridor’s continued transformation as a destination for experiential and globally recognized brands,” said Bajtel. “This deal validates our investment thesis and demonstrates that when you create an exceptional product in a premier location, the world’s best retailers will respond.”
“This deal highlights the strength of the Fifth Ave. retail market, where best-in-class tenants continue to secure space that offers both branding impact and long-term value,” said Joe Hudson of CBRE.